Summit Trail Advisors LLC Buys Shares of 2,263 Paycom Software, Inc. (NYSE:PAYC)

Summit Trail Advisors LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 2,263 shares of the software maker’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wrapmanager Inc. boosted its position in Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after purchasing an additional 63 shares during the period. Davis Investment Partners LLC grew its stake in shares of Paycom Software by 1.0% in the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the last quarter. GAMMA Investing LLC increased its holdings in Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after purchasing an additional 79 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 54,600 shares of company stock valued at $9,726,717 in the last 90 days. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software Stock Up 0.7 %

Paycom Software stock opened at $236.20 on Wednesday. The company has a market capitalization of $13.62 billion, a PE ratio of 28.42, a PEG ratio of 3.07 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $236.75. The firm’s fifty day moving average is $188.41 and its 200 day moving average is $168.26.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is currently 18.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Mizuho raised their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $193.67.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.